Baxter International Inc. (NYSE:BAX – Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 9,510,000 shares, a decrease of 8.0% from the November 15th total of 10,340,000 shares. Based on an average daily trading volume, of 5,010,000 shares, the days-to-cover ratio is currently 1.9 days.
Wall Street Analysts Forecast Growth
BAX has been the topic of several research analyst reports. StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Citigroup lowered their price objective on shares of Baxter International from $45.00 to $41.00 in a research note on Monday, October 2nd. Morgan Stanley lowered their price objective on shares of Baxter International from $45.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Baxter International from $35.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Baxter International from $49.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 31st. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.83.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Headinvest LLC bought a new position in shares of Baxter International during the third quarter worth approximately $25,000. Indiana Trust & Investment Management CO bought a new position in shares of Baxter International during the third quarter worth approximately $27,000. RFP Financial Group LLC bought a new position in shares of Baxter International during the second quarter worth approximately $36,000. Farther Finance Advisors LLC increased its holdings in shares of Baxter International by 28.5% during the second quarter. Farther Finance Advisors LLC now owns 1,185 shares of the medical instruments supplier’s stock worth $54,000 after purchasing an additional 263 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of Baxter International during the third quarter worth approximately $68,000. Institutional investors and hedge funds own 85.47% of the company’s stock.
Baxter International Trading Down 0.6 %
NYSE:BAX opened at $38.70 on Friday. Baxter International has a 1-year low of $31.01 and a 1-year high of $53.12. The business’s 50-day moving average price is $34.64 and its two-hundred day moving average price is $39.77. The company has a current ratio of 1.94, a quick ratio of 1.48 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 2.78 and a beta of 0.61.
Baxter International (NYSE:BAX – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The medical instruments supplier reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 21.38% and a net margin of 17.34%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.69 billion. On average, equities analysts expect that Baxter International will post 2.6 earnings per share for the current year.
Baxter International Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is 22.75%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.